Tesla unveils standalone batteries. Elon Musk will introduce a battery system called “Powerwall” for homes and businesses, which could eventually store cheaper off-peak energy to use when power grids are strained and electricity is more expensive.

Turkey braces for Labor Day protests. The government is readying at least 10,000 police officers in Istanbul and erecting iron barricades in the city center in anticipation of possible unrest. Last year’s Labor Day demonstrations resulted in 140 arrests and 90 injuries.

…And China’s economy also lagged. The government’s purchasing manufacturer’s index for April, which mostly looks at large state-owned firms, held steady at 50.1, barely above the 50 mark that divides expansion from contraction. The country’s ruling Politburo said it will also increase government spending and cut taxes.

The US moved to revamp the Patriot Act and rein in the NSA. A bipartisan bill that would limit the bulk collection of US citizens’ telephone records cleared a key House committee ahead of its likely passage. A parallel Senate bill has support from Democrats and several key Republicans, including presidential candidate Rand Paul.

Investors freaked over LinkedIn’s unremarkable earnings. The earnings themselves were fine, but the company’s outlook for the next quarter and fiscal year fell far short of expectations. The stock dropped 25% within minutes, wiping out around $6 billion in market capitalization.

The US Navy began escorting ships through the Strait of Hormuz. The move was a response to Iran’s seizure of a ship last week in the strategically crucial waterway. The US has also dispatched an aircraft carrier to deter potential Iranian military aid to rebels in Yemen.

Time Warner Cable’s earnings flopped, but it may have another suitor. The US cable television and broadband provider posted a first-quarter profit below analysts’ estimates, thanks to TV channels charging more for their content. In the wake of the failed Comcast acquisition of Time Warner, Charter Communications is reportedly looking into making its own bid (paywall).

Quartz obsession interlude

Akshat Rathi on hacking your coffee habit. “You probably don’t want to be that person who cries, ‘I need coffee. I can’t think.’ But there is a way of enjoying some of coffee’s benefits without getting addicted to it. You just need to know how to hack coffee’s half-life.” Read more here.

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